Mining Towns - Boom & Bust Remarks from SQM Research

Some interesting remarks here, from the economic observers at SQM Research, about the boom-bust economics of mining towns.

http://www.abc.net.au/news/2014-12-09/real-estate-prices-down-in-mining-towns/5952678

No doubt, those who got in early are still winners. People probably mocked them when they got in at the bottom of the cycle. Sadly, those who bought at the top must be hurting.

(I last visited Port Hedland and Karratha almost a decade ago, in 2005. I spotted a house selling for $185,000. I was keen to make an offer but the Bank would not come to the party. "Its a regional property, y'see" were the words of the loans manager. Five years later it sold for $956,000. Rents have varied from between $1000 to $2000 a week for this particular property).
 
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